There is a lot of confusion when it comes to capital gains tax (CGT), how its calculated, the available concession and how it impacts tax.

The first thing to note is that CGT is not a separate tax, its just calculated separately with any capital losses and concessions applied before the net capital gain is added to your taxable income. It's also important to know how any property sales will impact your tax before you sell to avoid any nasty surprises.

In TaxTank we've made this simple with a clever 'Sell Property' feature that lets you calculate your CGT in three (3) simple steps. Watch the video below to see how it works!!